Regulatory Alerts2020-01-01
Added · Updated
Board of Directors Resolution No. 164 of 2020 Concerning Licensing Rules and Procedures for Companies Seeking to Engage in Medium and Small Enterprise Financing and Microfinance Activities
The Egyptian Financial Regulatory Authority issued Resolution No. 164 of 2020 to establish comprehensive licensing requirements for companies seeking to engage in medium, small, and micro enterprise financing activities. The resolution mandates specific capital thresholds, ownership structures, and executive experience levels, while detailing the documentation and procedural steps for initial approval and ongoing compliance. It further outlines the conditions for companies holding licenses in one category to expand into additional financing activities and sets strict timelines for the Authority's review and decision-making processes.